No Cost EMI : E-commerce giant Flipkart's new initiative

Online shopping has increased by a greater margin in the recent years. This is due to the great cash back offers and other discounts offered by the respective companies.Customers are buying even gadgets and other high end mobile devices online.

But when EMI option is concerned,they customers are preferring offline over online shopping.One of the leading digital shopping companies, Flipkart introduced a new feature to all the customers those who want to enjoy EMI and online shopping benefits. This initiative is named as No cost EMI by the company officials.

The digital market place will enable the customers to buy high-end products online with no additional charges on EMI (Equated monthly Instalments). These EMIs will have no processing fee and another feature is that the customers need not pay any down payment. This is for zero interest to the customers.

The company shared papers with Bajaj Finserv and other brands who are playing a big game in the EMIs in the offline shopping. Flipkart limited it's No Cost EMI option to some products initially. The EMI may be spreaded over from 3 months upto 12 months.Flipkart is focussing on the customers who have no credit cards.This initiative may bring more customers online. Flipkart is making agreements with the leading brands initially regarding this initiative. This new plan was disclosed to the media by Mayank Jain. He is now the senior director and Head of Digital and Consumer Financial Services of Flipkart operations.